(Reuters) – U.S. securities regulators have taken the unprecedented step of asking high-frequency trading firms to hand over the details of their trading strategies, and in some cases, their secret computer codes.
There they go again, adding more uncertainty into the economy. It is important to note if the industry or the people who work in it are unpopular because the actions taken to cause this unpopularity are political, not economic. The unpopularity allow regulators and politicians to regulate them more, and it forces the unpopular entity to get more involved in the political process.
If you think it is acceptable for government to go after an unpopular industry, you are justifying the mindset of politicians and regulators. They’ll wield this discretion anywhere at any time and you could be next.